OUR DEPOSIT GUARANTEE SCHEME

IT'S IMPORTANT TO KNOW HOW YOUR MONEY IS PROTECTED

 

Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

 

 

All the accounts we offer are covered by the FSCS, protecting the first £85,000 per customer. 

For more information please visit www.fscs.org.uk/.

 

IMPORTANT INFORMATION

The Financial Services Compensation Scheme (FSCS) is there to protect your money. It is the body which gives you automatic protection up to £85,000 if your bank, building society or credit union goes out of business; and you’ll normally get your money back within seven days. The FSCS is funded by the financial services industry, and is free to consumers. So whatever your money is for, it’s good to know it’s protected.
 
You can find more information in this helpful information sheet or by visiting fscs.org.uk.

 

IF YOU HAVE A TEMPORARY HIGH BALANCE

The FSCS provides a £1,000,000 protection limit per individual for certain types of temporary high balances held with a bank for a period of up to six months in the event the bank holding the deposits fails. Proceeds from certain life events such as the sale of a house, redundancy payment, inheritance and certain court judgements fall within the scope of this protection limit.

 

For more information and a full list of what life events fall into the scope of temporary high balances please click here.

 

MORE INFORMATION

For more information on the FSCS please visit www.fscs.org.uk/ or download their useful guide.